Prosper is located in a good market for 5+ unit multifamily loans. Multifamily loans in Prosper are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Prosper are competitive. Prosper apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Prosper.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Prosper are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Prosper.
The city of Prosper in Collin County has a population of 24,579. The median rent in Collin County for a 2 bedroom is $1,473. The median Prosper resident is 36 years old with a yearly income of $62,585. The average family has 3.6 members and a median household income of $146,733. Prosper has a 57% higher education rate. The unemployment rate in Prosper is 2.1%.
13.6% of Prosper households are renters.
25.3% median household income spent on rent.
Bedrooms |
Collin County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,121 | $669 | $737 |
| 1 bedroom | $1,235 | $738 | $813 |
| 2 bedroom | $1,473 | $912 | $1,015 |
| 3 bedroom | $1,902 | $1,210 | $1,325 |
| 4 bedroom | $2,516 | $1,407 | $1,521 |
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